Forward Guidance cover image

The "Money Illusion" Keeps the Economy Hot | Juliette Declercq

Forward Guidance

00:00

The Impact of Inequalities on Demand

High income households save about like sweet to 3.5 percentage points more of the national income than before 1980. And that's really the key. If all the income, if basically a growing part of income is going to households that are not going to spend it, you've got a massive issue with deficient demand. They're investing it in bonds or savings accounts that earn 1%. So it's inherently disinflationary.

Transcript
Play full episode

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app